You wont be able to log-in to any site forever if you lose your iPhone.
I back up my iPhone to iTunes. Today I tried to restore my backup into a new iPhone, and I discovered that all the tokens are gone in new device. If I erased my old device, I just wont be able to log-in to any site forever. Dont use this app if you dont want to lose your account at some unexpected point.
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Google Authenticator, v3.0.0